Alternergy Holdings Corp. Unit Secures P8 Billion in Financing for a Wind Energy Project

Two banks granted P8 billion to renewable energy company Alternergy Holdings Corp. (Alternergy) to finance the building of a 112 megawatt (MW) wind power project in the province of Rizal.​

As co-lenders, Alternergy obtained the funding from the Ayala-led Bank of the Philippine Islands (BPI) and Security Bank Corp. through its indirect, fully owned subsidiary, Alternergy Tanay Wind Corp. According to the company, the loan would be utilized to finance the building of the 112 MW Tanay wind power project in Rizal. The energy business will be able to start construction in June.

​​“We are delighted to partner with BPI and Security Bank for the first time. Their support comes at a critical time as we push forward with accelerated construction to bring our Tanay wind power project into commercial operations by end 2025,” Alternergy president Gerry Magbanua said.
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The Department of Energy (DOE) announced that the Tanay wind power project and another wind project in Alabat, Quezon, were the successful bidders in the second round of the Green Energy Auction Program.

The DOE gave Alternergy the all-clear in March to begin building the two wind power projects in Calabarzon.

With the two wind projects under construction, the company will have built up to 174 MW of energy capacity in the next twenty months. In the following three years, the company plans to develop up to 474 MW of new run-of-river hydro, solar, and wind projects.

Alternergy Holdings Corp. is a Philippine pioneer in renewable energy. With a proven track record of developing, building, and operating groundbreaking renewable power projects in the country, the company strives to create a more sustainable future for the next generation. Alternergy takes a quadruple bottom line approach that prioritizes profitability, carbon reduction, host community benefits, and employee fulfillment.

Alternergy has a portfolio of various renewable energy projects, including wind, run-of-river hydro, solar farms, commercial rooftops, battery storage, and offshore wind projects.